Concurrent Investment Advisors LLC Has $6.54 Million Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Concurrent Investment Advisors LLC decreased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,038 shares of the company’s stock after selling 18,999 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Bentley Systems were worth $6,540,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Swedbank AB grew its position in Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the period. Impax Asset Management Group plc bought a new stake in Bentley Systems in the third quarter valued at $88,771,000. TimesSquare Capital Management LLC grew its position in Bentley Systems by 3.5% in the third quarter. TimesSquare Capital Management LLC now owns 1,161,146 shares of the company’s stock valued at $58,998,000 after acquiring an additional 39,205 shares during the period. Fiera Capital Corp grew its position in Bentley Systems by 13.2% in the fourth quarter. Fiera Capital Corp now owns 953,246 shares of the company’s stock valued at $44,517,000 after acquiring an additional 111,433 shares during the period. Finally, Bridgewater Associates LP grew its position in Bentley Systems by 6.4% in the third quarter. Bridgewater Associates LP now owns 556,684 shares of the company’s stock valued at $28,285,000 after acquiring an additional 33,344 shares during the period. 44.16% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.12% of the stock is currently owned by insiders.

Bentley Systems Trading Down 0.5 %

Shares of BSY opened at $47.44 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 12-month low of $43.82 and a 12-month high of $57.19. The firm has a market capitalization of $13.79 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03. The stock’s fifty day simple moving average is $46.82 and its 200-day simple moving average is $48.42.

Analyst Ratings Changes

Several analysts have recently commented on BSY shares. Piper Sandler decreased their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Rosenblatt Securities restated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Bentley Systems Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.